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Sr. Benefits Specialist, temporary

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Terumo Medical Corporation

3mo ago

  • Job
    Full-time
    Senior Level
  • People, HR & Administration
    Healthcare
  • Somerset

AI generated summary

  • You need a BA/BS, 5+ years of benefits experience, strong Excel skills, ability to work independently, and good interpersonal and financial acumen for a matrix environment.
  • You will manage health benefits, 401(k) and pension plans, ensure compliance, analyze programs, support open enrollment, maintain data accuracy, and coordinate audits and wellness initiatives.

Requirements

  • BA or BS
  • Minimum 5 years benefits experience
  • Excellent understanding of Microsoft Office Suite, especially Excel
  • Familiarity with payroll systems a plus but not required
  • Ability to work independently with limited supervision
  • Ability to deal effectively with external vendors and carriers
  • Interpersonal skills to deal with Human Resources and Finance staff within TAH, group companies, and secure cooperation
  • Financial acumen to identify and correct deficiencies in processes in order to maintain compliance in accordance with applicable laws
  • Position involves working with numerous subsidiary Human Resource and Accounting/Finance Departments thus experience establishing relationships and working in a matrix organization is critical

Responsibilities

  • Support to Health and Welfare Benefits program including, but not limited to, Medical, Prescription, Dental, Vision, Life, Disability, Employee Assistance Program, and a variety of voluntary benefit programs
  • Support for 401(k) Plan, Pension Plans, and Non-qualified Deferred Compensation Plan administration
  • Responsible for 401(k) plan reconciliation of payroll deductions to ensure timely and accurate funding to participant’s accounts
  • Organize and manage annual 401(k) compliance testing (i.e. non-discrimination testing)
  • Analyze current benefits, evaluate usage, services, coverage, plan experience, competitive trends in benefits programs and provide recommendations for annual plan design that will provide enhancement and cost control
  • Complete benefits surveys
  • Support all aspects of Annual Open Enrollment Process
  • Maintain benefit portal plan design and set-up in conjunction with third party vendor
  • Ensure accuracy of data exports to carriers, vendors and payroll system as well as individual Associates
  • Organize and manage Annual External Audits and 5500 preparation of 401(k) and Pension plans
  • Organize and manage routine and annual audit and reporting of benefit/payroll related data in various systems: Benefit Portal, Vendor/Carrier portals and Payroll Data Base
  • Serve as a contact person for vendors and associates on Wellness initiatives and programs
  • Provide support for acquisition integration and organization restructuring efforts
  • Perform other job related duties as required

FAQs

What is the main responsibility of the Sr. Benefits Specialist?

The main responsibility of the Sr. Benefits Specialist is to provide support in the development, implementation, administration, and communication of Employee Health and Welfare Benefits Plans and Executive Benefit Plans, as well as ensuring compliance with policies and regulations.

Is this position temporary?

Yes, this position is temporary.

What qualifications are required for this role?

A BA or BS degree and a minimum of 5 years of benefits experience are required for this role.

Will the Sr. Benefits Specialist work with external vendors?

Yes, the role involves dealing effectively with external vendors and carriers.

What skills are necessary for this position?

Necessary skills include the ability to work independently, strong interpersonal skills, financial acumen, and proficiency in Microsoft Office Suite, especially Excel.

What types of benefits programs will the Sr. Benefits Specialist support?

The Sr. Benefits Specialist will support various programs including Medical, Prescription, Dental, Vision, Life, Disability, Employee Assistance Program, and a variety of voluntary benefit programs.

How does Terumo Medical Corporation view personal growth?

Terumo Medical Corporation believes in the power of personal growth and encourages associates to deepen their skills throughout their careers.

Will the Sr. Benefits Specialist assist with compliance testing for the 401(k) Plan?

Yes, the specialist will organize and manage annual 401(k) compliance testing, including non-discrimination testing.

What types of audits will the Sr. Benefits Specialist manage?

The specialist will organize and manage Annual External Audits and the preparation of Form 5500 for the 401(k) and Pension plans.

Are there any preferred experiences for this role?

Familiarity with payroll systems is a plus but not required, alongside relevant experience in benefits administration.

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Terumo Medical Corporation

At Terumo, we are committed to our Core Values: Respect. Integrity. Care. Quality. Creativity.

Manufacturing & Electronics
Industry
1001-5000
Employees
1972
Founded Year

Mission & Purpose

ADVANCING HEALTHCARE WITH HEART CREATE YOUR FUTURE, AND OURS Here you grow your own way, you create to innovate, and learn as you go, alongside like minds who share the same commitment to the future of healthcare. We are proud to have launched global development programs to help our associates shape their careers alongside the future of healthcare. ENJOY A REWARDING AND MEANINGFUL CAREER As a team, we make a real difference to the health and wellbeing of our patients today, and leave a lasting legacy for tomorrow. Your time is dedicated to innovation, problem solving, teamwork and lifelong learning, as an integral part of our ever-curious, always committed, continually collaborative environment. We foster a growth mindset culture, embracing mistakes as an opportunity to learn, and celebrating the small wins along the way, so we can all grow together. FOR TERUMO, FOR EVERYONE, EVERYWHERE Whatever you do – marketing, engineering, sales or manufacturing – our teams look out for one another, respect and support each other in achieving our goals, and we value diversity and inclusion, empowering everyone to bring their authentic self to work. If you’re ready to advance healthcare with heart, we look forward to hearing from you.

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